An Executive Recruiter On the Long-Term M.B.A
Will an M.B.A. be a worthwhile investment for your career? CollegeJournal.com spoke with recruiter Walter E. Williams, a partner at Battalia Winston International's Wellesley, Mass., office about the degree's long-term value to a manager's success. Mr. Williams, 60, specializes in professional and financial-services recruiting and is a graduate of the Harvard School of Business.
CollegeJournal.com: How important is a business school credential when evaluating a job candidate?
Mr. Williams: It depends on the industry and the specific value of the M.B.A. An M.B.A. generally diminishes over time, as accomplishments become more important. If someone was a chief executive officer already and has proven successful as the CEO of a company, it is not as important. The value of an M.B.A. would be less important when looking at candidates who are 40 to 50 years old than it would be when looking at a 35-year-old.
CJ: Are some M.B.A.s more valuable than others?
Mr. Williams: A name-brand M.B.A. retains its value longer. Programs like Wharton, Harvard, Stanford, Columbia and Dartmouth retain their values longer, because they are schools with very high admissions criteria, and they tend to bring in the highest quality applicants.
There is also a certain marquee value that companies would look for -- to be in prospectuses if they are going public or in the annual company report. It also has a marketing value to gain clients, especially in professional services and some sectors of financial services.
Some of the large well-established programs have a large alumni network of graduates, which companies may want to tap into.
CJ: Are M.B.A.s overrated?
Mr. Williams: I think the value has gotten a little more watered down over the years. If you look back 20 or 30 years, and look up the number of people who had M.B.A.s, there are probably five times as many in 2006. It means comparatively less now than in 1966, because there are more of them. That's why the value is greater at the top schools.
CJ: What industries value an M.B.A. most?
Mr. Williams: Professional services, management consulting, strategy consulting and investment banking. There are certain consulting firms that will hire only M.B.A.s, and they must be from particular schools. Client-facing positions generally want M.B.A.s. A person on a trading desk at an investment-banking firm who doesn't interact with clients may not need an M.B.A. A person at an investment firm calling on new clients to get business will more likely find an M.B.A. valuable.
CJ: What percentage of candidates whom you've recruited have gone to business school?
Mr. Williams: It keeps going up every year. It's probably in the 30% to 40% range, and it varies by industry. For management consulting, it's probably around 90%. For investment banking, it's around 70%. Financial services is probably around 60% to 70%. But manufacturing could be 10% to 20%.
The M.B.A. has evolved from being important in only a handful of places to expanding to include a broader array of industries where they ask for M.B.A.s. More and more are saying 'M.B.A.s desired but not required.' It used to be either they required it or not.
CJ: What are some alternatives to pursuing an M.B.A.?
Mr. Williams: All major business schools offer executive programs specifically geared toward midlevel and high-level executives. These senior-level educational programs are sponsored by the employer and are from six to eights weeks. If a candidate hasn't gone to business school, but you see that their company sponsored them to go to Harvard for the advanced management program, it means that the company was willing to make that kind of investment in them.
The value of master's of science in accounting and master's of public administration depend on how they are structured. Some master's degrees that aren't M.B.A.s capture some of the M.B.A.'s qualities. These are lesser known to companies and recruiters.
CJ: When you learn a candidate has an M.B.A., what does that say about them?
Mr. Williams: They have made a sacrifice, and they are a highly motivated person. Depending on the reputation of the school, it can be a marker of how bright they are and how much value they place on it. If someone quit their job and went to Wharton, it tells me something different than if someone who went to a lesser-known school out of convenience, as opposed to seeking the best training. If I see someone who had a career and left to go to a top-flight school, it shows that they are career-oriented.
CJ: What qualities do recruiters expect most M.B.A.s to possess?
Mr. Williams: They have a much broader perspective of how the overall enterprise works. Someone in finance will gain knowledge in marketing, and someone in manufacturing will be exposed to finance. They are also suited, down the road, for general-management positions.
CJ: Do M.B.A.s generally command higher pay than those who don't have the degree?
Mr. Williams: Yes. I wouldn't say that it's purely a function of the M.B.A. A person with an M.B.A. may get to be a vice president with a company at 35, and the same person without an M.B.A. might be 43. The person with the M.B.A. is on the faster track and might require a higher compensation. Someone on the same level, who took longer to get there, may view their career path as not advancing as quickly and may be more willing to move to a different company where they may get a better career path for a lesser increase in compensation.
CJ: What advice do you have for those considering business school?
Mr. Williams: Go out and get some experience before you get your M.B.A. If you get an M.B.A. straight after your undergrad, you may know math, but when you go to a company, you become more of a realist as to how the business world works. Go to the best school you can get into. It will always be helpful.
If you're at mid-career, find out how prevalent M.B.A.s are in the upper management, and the quality of the M.B.A.s. Dig up a prospectus and find out where the top executives at your firm come from. This will tell you how important or unimportant an M.B.A. is. If 70% of the executives at the company have an M.B.A., it sends a signal of high value put on an M.B.A.
-- Ms. Mattioli is an editorial assistant at CollegeJournal.com.
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